ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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TOTAL LIABILITIES & NET WORTH Definition
TOTAL LIABILITIES & NET WORTH is the sum of all liability items and Net Worth.
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CHECK is a draft drawn against a bank, payable upon demand to the person/entity named upon the draft.
NORMAL PROFIT is the opportunity cost of using entrepreneurial abilities in the production of a good, or the profit that could have been received by entrepreneurship in another business venture. Like the opportunity costs of other resources, normal profit is deducted from revenue to determine economic profit. It is, however, never included as an accounting cost when accounting profit is computed.